Jin Rong Jie·2025-12-15 00:40Core Insights - OpenAI officially released the GPT-5.2 series model on December 11, showcasing significant advancements in reasoning, professional knowledge work, financial modeling, and productivity tools like PPT/Excel, surpassing previous generations and leading in multiple reasoning benchmark tests against Google's Gemini 3 [1] - The global AI arms race is intensifying, with OpenAI being pressured by competitors like Google and Anthropic, prompting accelerated development of large models [1] - The recent approval of NVIDIA's H200 chip for export to China, which has nearly six times the performance of the previous H20 chip, is expected to alleviate the domestic high-end computing power shortage and accelerate AI computing infrastructure development in China [1] Industry Implications - The breakthroughs in large model speed and stability will drive increased demand for AI training and inference computing power, impacting the global supply chain for core hardware components such as servers, specialized chips, optical modules, advanced packaging, high-speed interconnects, high-bandwidth storage, liquid cooling, and copper cables [1] - Despite the easing of restrictions on the H200 chip, the U.S. strategy to maintain long-term control over core computing power in China remains unchanged, emphasizing the urgency for domestic self-sufficiency in computing power [2] - The acceleration of AI computing infrastructure in China is expected to benefit various segments related to computing power, including server manufacturing, high-bandwidth memory (HBM), optical modules, PCBs, copper cables, and liquid cooling, highlighting potential investment opportunities in leading companies within these sectors [2]